His Application via the Financial Times

[Adam Posen] is the first MPC member publicly to call for a second-round of quantitative easing, often referred to as QEII.

“It is right for both long-term stability and short-term performance for central banks to do more now,” Mr Posen told a business audience in Hull.

He certainly advocating Quantitative Easing by the Bank of England and his use of the plural Central Banks leads me to suppose that he is pointing at the Fed and ECB as well.

Posen adds a warning. One that I will be echoing though perhaps a mildly less alarmist way.

“Let us not forget that it was sustained high unemployment and austerity, the sense that governments were unresponsive to average people’s dire economic conditions, which led to the rise of extremist intolerant parties in pre-war Europe,” Mr Posen concluded.

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